Glencore and Rio Tinto Revive Talks After Anglo‑Teck Deal

Glencore and Rio Tinto revived merger talks this week, gaining fresh momentum after a recent Anglo American-Teck deal and as copper prices surged to record highs.The talks follow their collapse in 2024 and Glencore’s May 2025 restructure that moved coal into a separate Australia-based entity and come amid forecasts of a supply shortfall of up to 10 million tonnes of copper by 2040.Analysts and executives including Johannes Grunselius, Jack Lundin, Derren Nathan and Gary Nagle warned deals can fail, markets reacted with Rio shares falling in Australia while Glencore rose, and under UK takeover rules Rio has until early February to either lodge a formal offer or confirm it will not proceed.